BPO TV

Wall St closed lower overnight as the S&P 500 and the Nasdaq fell for the second straight session to start September. The S&P 500 fell 0.16%, the tech-heavy Nasdaq ended the day 0.3% lower and the Dow Jones had a slight rise of 0.09%.

Over in Europe, markets closed lower on Wednesday’s trading session following losses on Wall St. The STOXX600 closed 1% lower with most sectors closing in the red. Losses were led by technology stocks which saw a 3.2% decline, whilst household goods also fell 2%. Germany’s DAX fell 0.83%, the French CAC closed nearly 1% in the red and over in the UK the FTSE100 dropped 0.35%.

Locally yesterday, the ASX200 closed 1.88% lower will all major sectors ending Wednesday’s trading session lower. Losses were led by the materials and energy sectors which fell 3.03% and 2.99% respectively.

What to watch today:

• The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise 0f 0.03% at market open this morning.
• On the commodity front this morning,
  • Oil is trading 1.87% lower at US$68.90/barrel following concern from investors over future demand for oil.
  • Gold is trading 0.09% higher at US$2495/ounce and iron ore is trading 1.87% higher at US$100.55/tonne.

Trading Idea:

• Bell Potter maintains a speculative buy rating on Curvebeam (ASX:CVB) which is a healthcare equipment and services company which combines market leading point-of-care diagnostic beam CT imaging solutions with Artificial Intelligence. Bell Potter’s valuation of $0.26, implies a 40.5% share price growth of the current share price of $0.185, hence the speculative buy rating is recommended.